Danone: Emmanuel Faber will take reins of group.

(CercleFinance.com) - Danone announced last night that its CEO since 2014, Emmanuel Faber, will also take over as board chairman, a place that Franck Riboud will abandon at the end of November.

In short, as of 1 December, Mr. Faber will the new chairman and CEO of the French agri-food group.

Franck Riboud said, “Today's announcement reflects the culmination of a planned leadership transition process that I initiated for Danone's top management three years ago and that has allowed the company, under Emmanuel Faber's leadership, to enter a new development phase. Combining the Chairman and CEO roles will solidify this momentum , creating a direct bridge between the Board and management that will enable the company to continue to execute on its strategy, speak with a unified voice and make decisions in an agile and transparent manner.

Aurel BGC said this morning that, "the separation of powers will have lasted three years at Danone."